A new certificate has been launched to support finance professionals in understanding the new International Financial Reporting Standard (IFRS) for small and medium-sized entities (SMEs)

The CertIFR for SMEs has been launched by ACCA (the Association of Chartered Certified Accountants) to ensure finance professionals understand the details of the International Financial Reporting Standard (IFRS) that has been introduced for SMEs.

The IFRS for SMEs has been adopted in many countries and its use is spreading. It will be essential for many finance professionals - especially those working in, and for, the SME sector - to understand this standard that will be used by the millions of companies within its scope.

This IFRS has significant disclosure reductions to the full IFRS for larger companies, and different accounting treatments for some items such as goodwill.The aim of the certificate is to ensure finance professionals will understand how the IFRS for SMEs is used around the world and know how to use it in practice. It will also enable them to examine its fundamental requirements for the benefit of preparers, auditors and users of financial statements.

Alan Hatfield, director - learning at ACCA, said: “The certificate is available on-demand so it fits around people’s jobs and lives. The course is not just for those who want formal recognition; if you value the extra knowledge you can just take the course without completing the online assessment. This certificate will also provide CPD to ACCA members.”

To find out more about the CertIFR for SMEs, please visit http://www.accaglobal.com/en/qualifications/glance/CertIFRS-SMEs/overview.html

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For more information, please contact:

Alana Sinnen, ACCA Newsroom

+ 44 (0) 207 059 5807

+44 (0) 7715 812120

alana.sinnen@accaglobal.com

Notes to Editors

1.      ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants. We aim to offer business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management.

2.      We support our 154,000 members and 432,000 students in 170 countries, helping them to develop successful careers in accounting and business, with the skills required by employers. We work through a network of over 80 offices and centres and more than 8,400 Approved Employers worldwide, who provide high standards of employee learning and development. Through our public interest remit, we promote appropriate regulation of accounting and conduct relevant research to ensure accountancy continues to grow in reputation and influence.

3.      Founded in 1904, ACCA has consistently held unique core values: opportunity, diversity, innovation, integrity and accountability. We believe that accountants bring value to economies in all stages of development and seek to develop capacity in the profession and encourage the adoption of global standards. Our values are aligned to the needs of employers in all sectors and we ensure that through our qualifications, we prepare accountants for business. We seek to open up the profession to people of all backgrounds and remove artificial barriers, innovating our qualifications and delivery to meet the diverse needs of trainee professionals and their employers.